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> This is, of course, the very definition of a Ponzi scheme. Most Ponzi schemes don't have the authority to levy taxes on the largest economy the in world, nor
by praxulus 5y ago
> This is, of course, the very definition of a Ponzi scheme.
Most Ponzi schemes don't have the authority to levy taxes on the largest economy the in world, nor are they backed by the most powerful military force humanity has ever seen.
- newsclues 5y agoDoes that mean modern monetary policy is not a Ponzi scheme because it has a nuclear military?
- kiba 5y agoNo society can outrun living beyond their means, no matter how deep their reserves are.
- JumpCrisscross 5y ago> No society can outrun living beyond their means, no matter how deep their reserves are Which is why we have inflation. No reserves needed. The price levels incorporate the distance between the means and the living.